Breaking: Icahn: Risk of Double Dip, Investor ‘Bloodbath
By Daniel at 9 October, 2009, 12:58 pm
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“There is a real risk of a double-dip recession and the market is acting in a “schizophrenic” way, which could cause a “bloodbath” for investors, billionaire investor Carl Icahn told CNBC Friday.
“If you get a double-dip recession and they start coming down, it’s going to be a bit of a bloodbath,” Icahn said.
“The amateur investor is going to get hit badly again because they’re pouring money into these funds. Some of these funds managers I do not think are experienced enough to handle some of the distressed stuff they’re buying and they’re going to get burned,” he said.
Icahn said he still sees investment opportunities in advertising, telecom, the Internet and bankruptcies. But making money out of bankruptcies should only be attempted by the experts, he said.
Second Opinions:
- Dow Will Fall to 6,300 by Year End: Portfolio Manager
- Art Cashin: Falling Dollar Can Crash Markets a la 2008
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http://www.cnbc.com/id/33238210?__source=yahoobuzz&par=yahoobuzz
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